"I need to see if there's any reaction from today (Monday’s training session)," Shakespeare told reporters.
"I'm really pleased with the way he's progressed over the last three days but the final decision will be made tomorrow morning.
"I'd like to find out from the player, but my eyes tell me today that we should both be fairly pleased with the way he's come through."
Leicester must overturn a 1-0 deficit at the King Power Stadium after Atletico striker Antoine Griezmann's disputed penalty gave the Spanish side a narrow advantage last week.
Shakespeare said his players had to be streetwise and must find attacking solutions if they are to progress to the semi-finals.
"We have to be mindful in terms of us being smart and our game management has to be good," Shakespeare added.
"We know what we have to do and we can't sit back for 90 minutes because we need to score."
Midfielder Andy King and defender Yohan Benalouane, who both came off with injuries during Leicester's 2-2 draw with Crystal Palace on Saturday, were both back in training and will be available to face Atletico.
(Reporting by Hardik Vyas in Bengaluru, editing by Ed Osmond)
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